Oxfam estimates that perhaps $3.55tn is still shielded from tax – worth more than 3% of global GDP. Estimates from previous research suggest 80% of this wealth, or more than $2.84tn, is likely to be owned by the richest 0.1% of households.

That would mean this tiny group hold untaxed assets equivalent to the total wealth of the poorest half of the global population.

That money alone is more wealth than is owned by the entire bottom half of humanity, more than 4.1 billion people.

That’s more than the entire GDP of France and is more than twice the combined wealth of the world’s 44 poorest nations.

the December 2025 “World Inequality Report” found that the richest 0.001% of humanity—fewer than 60,000 multimillionaires and billionaires—now have three times as much wealth as the poorest half of the world’s population combined.

While the global top 0.1% holds about 80% of untaxed offshore wealth, an even smaller group of uber-wealthy individuals does most of the cheating. The world’s richest 0.01%, who hold at least $50 million apiece, control about half of all money in global tax shelters—$1.7 trillion.

According to the Tax Justice Network’s Corporate Tax Haven Index, Caribbean islands under UK ownership, including the British Virgin Islands, the Cayman Islands, and Bermuda, are among the worst offenders. Other notable tax havens include Switzerland, Singapore, Hong Kong, Ireland, and the Netherlands.

Even a fraction of the money currently stashed away by the world’s wealthiest could alleviate untold amounts of suffering.

In November, the United Nations’ World Food Program estimated that extreme hunger, which currently affects more than 318 million people around the world, could be eradicated by 2030 with investments of about $93 billion per year, but that global hunger programs instead remain “slow, fragmented, and underfunded.”

According to a 2021 UN Educational, Scientific, and Cultural Organization (UNESCO) report, investments of around $114 billion per year would similarly be enough to ensure that everyone on Earth has access to safe drinking water and sanitation.

https://www.commondreams.org/news/global-tax-havens-inequality